he is chairman and ceo of bristol-myers, learn more about this amazing drug. dr.e back to "mad money." >> jim, thanks having me. we are thrilled with the approval and the opportunity to bring this innovative medicine to patients with schizophrenia. this is one of the things we've been focused on in my first year as ceo. and have to say, we're transforming this company to deliver long-term growth, and this is a big piece of that. >> now, when i met you, my first reaction when you told me about this is listen, be careful. the brain, everything that goes wrong with the brain, it's almost impossible to figure. why did you so much confidence to spend so much money on caruna? >> we acquired the drug because the science is so incredible here. this is a new approach to treating schizophrenia. this is a patient population that is in desperate need of something new. there hasn't been anything fundamentally new in decades. this is a patient population as you point out that have horrendous side effects with existing therapies. you've got being tired all the time, not being ab

so chips, bristol-myers.k over to you. >> my neighbor is going to be a happy lady today. >>> we begin with the fed's pr preferred inflation cage, putting the inflation rate at 2.2%. the core still running hotter, 2.7. but those numbers are not changing my next guest's best case of quarter point cuts for the rest of the year. she says the bar isn't particularly high for bigger ones. join us is julia coronado, and cnbc's very own steve liesman. steve, just set the stage briefly. what is the market's current anticipation, what is priced in for rate cuts? >> okay. some fresh quotes right here. surprising to me, by the way, kelly. i thought you might get a little more movement, but it's 54% for a 25 -- for a 50, and 46% for a 25. so leaning a little bit more towards a 50. you were at 51% going into the meeting. remember, it's been as high as 65%, but we got some better than expected data. you also had these revisions to income and spending that are generally higher over the past several months and selveral years.

angelica peebles is looking at the drug approval sending bristol myers higher.t he's watching in the crucial final moments of the trading day. angelica, bristol myers on this drug approval. >> the fda approving a schizophrenia drug, and this is the first new drug for the brain disorder in 30 years. doctors are excited because it promises to relieve symptoms without the side effects that come with the current drug, things like weight gain and tremors. pricing around $20,000 a year, and that's similar to other branded schizophrenia drugs. this is an important drug for bristol. the company's spending $14 billion to acquire the developer. bristol, not sharing sales estimates at this point but analysts see it becoming a blockbuster so it's definitely one to watch. >> and the symptom up almost 2% on $100 billion market cap for bristol myers, so pretty significant. thank you very much. c contessa, the win rally continues. >> wynn stock really popped today, up more than 7% after an upgrade from morgan stanley, mike, which sees real advantages in wynn's first mover statu

>> bristol-myers. you play for 60 here. >> we were just talking about banks.hink there is room to run. >> you jumped it. >> i was going to say, i often disagree with karen. you don't like to disagree with guy. >> right. >> i think that is overextended. i think you probably have a pull back. >> all right. >> guy. >> one of the great lines in history, karen said i would agree with dan and then we would both be wrong. welcome back, mel. great to have you here. >> txt and the defense sector. >> chris, thank you for joining us tonight. thank you for >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always more work somewhere, and i promise to help you find it. mad money starts now. >>> hey, i'm cramer, welcome to mad money. welcome to cramerica. i'm just trying to save you on money. my job is not just to entertain, but to really put it in context. days like today need that. call me. this market is so ridiculous. you can knock it over with a feather or take

but we are also seeing bristol myers, they're far along, acquired a company for $4 billion.lso have astrazenica, eli lilly, and sanofe getting in on it, too. >> are they in the space or in the space they're trying to help with the symptoms of -- >> no, pfizer, they're working on a different drug to. patients who are -- they have something called cancer caxia, where you lose your appetite and that leads to muscle wasting. and that's a problem, you lose a lot of weight, and it can make your symptoms even worse. so they over this weekend presented some data showing that their experimental drug can help. that's something we'll be watching, as well. >> always nice to hear. i know the stuff is expensive and whatnot, but for people dealing with these -- if they could do something like you said for lung and breast, that would be great. >> thank you very much. appreciate it. >> thank you. >>> wall street has its eye on wednesday's fed decision on interest rates. we will bring you three different stock picks with three different fed scenarios in a fresh newly cooked pre-stock lunch. a

generated almost $1.00 of the half trillion dollars in revenue in 2022 last year drug manufacturer, a bristol myers squibb posted 45000000000 dollars in revenue. not reported around $60000000000.00 in sales, and johnson and johnson rating. bolden, $85000000000.00. joining us not from atlanta in italy is andrew father. he's the head of global public health initiatives for oxford in berlin, and a senior fellow at ox with boss and school. good to have you with us. i just want the drugs cost so much in the united states. when the u. s. has a different system from many other parts of the world. i'm only based in the u. k. and we have a, a, a institute code nice to recognize these things and puts things through a mechanism to west. i won't be effective messes us doesn't have that kind of centralized monopoly control or pricing. so what you just described is a kind of an innovation on that you have to find go through the new regulation update of at the level of the government. do you have to put asked to put to an act in order to do this. so this is meant if you just clear up to the price that's like twic

bristol-myers. we to the fda approved the groundbreaking schizophrenia drug.here's no black box warning label. if you take mental medications, the side effects are often intolerable. these suggest the side effects as soon as next month. the momentum is with them, third-quarter delivery expected to be good and the week after that is the robo taxi event, two trading days left, tesla up 29%. blue one skeptical on that but that's compelling of a stock. lead to it is the future, probably the distant future, not in your lifetime. blue one coming up, donald trump things kamala harris should call off a trip to the border. >> you can't justify it. she should save her airfare, go back to the white house and tell the president to close the border. stuart: we will ask congressman pat fallon what he thinks of harris's border visit. a razor thin race in arizona and georgia, must when battleground states. tropical storm helene battering georgia. one woman trapped in her car during a live report on fox and friends, you've got to watch this. >> she is screaming now, called 911

. >>> shares of bristol myers squib are higher following the fda approval for a drug to street schizophreniane of the biggest shareholders in trump media all but eliminating the stake in the company. andrew letinsky cut the stake in the media and technology company from over 7.5 million shares down to just over 100 shares. >>> and helene weakening to a tropical storm overnight. the storm now moving over georgia and into further southeastern u.s. >>> markets are in line for a positive week with the dow up .25% and the s&p up .75 and the nasdaq up 1.4%. let's bring in patrick frizzeti. >> good morning, frank. >> obviously, we have pce coming up. how do you see today shaping up? what is your word of the day? >> the word of the day is stamina. you hear it in the political realm a lot. the same should be said for the investment landscape. >> spell it out. when you say stamina, what do you mean? do you stay with trades already working or do you continue to put money in the market although there could be volatility coming up. what stamina? >> if you put together a plan, you have to stick with it. i

i have bristol myers on tonight. they have a new drug. >> and neui will say, the mood around deliveries is pretty good, stocks up 30% in six months. >> stock is a winner. the guy is a winner. i say that because he's a winner. i don't -- there are a lot of people who really are kind of not happy with his politics but happy with his products. >> the business front, he has an incredible track record of success, to engage so fully in the political discourse, you wonder how many -- >> you have to separate the two. >> i don't know, i'm struggling. you have to separate the two. you just have to. >> yeah. >> many people will nod, i think, but, look, again, i don't want to get into it. >> you follow the guy every day. it's just a torrent of nonsense. >> it's so hard. i was on a plane with no internet service. but i still got letter x. like, you know, where there's no internet, he still works. i mean, i don't know, he's all anybody talks about for heaven's sake. >> somebody asked me, why don't we talk more about musk. i said,

bristol-myers higher, what it could mean for the stock long-term next. >>> it has been a september to remember for tesla. but can q3 delivery numbers keep the red hot rally going? we'll debate all that right after this. -cologuard®? -cologuard. cologuard! -screen for colon cancer. -at home, like you want. -you the man! cologuard is for people 45+ at average risk, not high risk. false positive and negative results may occur. ask your provider for cologuard. ♪ i did it my way ♪ let's say you're deep in a show ask your provider for cologuard. or a game or the game. on a train, at home, at work. okay, maybe not at work. point is at xfinity. we're constantly engineering new ways to get the entertainment you love to you faster and easier than ever. that's what i do. is that love island? >>> witelcome back to "fast money." bristle myers squibb up today after approval of a schizophrenia drug. this would be the first treatment of its kind to hit the market in decades. angelica peeples has more. it is expected to be a block buster. >> that's right. this approval marks the first new class of sch

bristol-myers squib tells cnbc they expect the pill to be available late next month. andy jassy says amazon wants employees back in office five days a week. 23% of amazon employees said they're considering looking for a new job before the policy starts in january. while a survey from glassdoor found the same percentage of workers were rethinking their future career plans. i guess they should talk to the delivery guys out there every day. they never get a chance to work from home. >> that's true. that's true. contessa brewer, thanks. appreciate it. >>> still ahead, the people inside this club, they're partying like it's midnight but what does it look like outside? protect against rsv... with arexvy. arexvy is a vaccine used to prevent lower respiratory disease from rsv in people 60 years and older. arexvy does not protect everyone and is not for those with severe allergic reactions to its ingredients. those with weakened immune systems may have a lower response to the vaccine. the most common side effects are injection site pain, fatigue, muscle pain, headache, and joi

also own some of the, call it the -- not even second tier, they're the la laggards, j&j, pfizer, bristol myers. i think that rotation is happening and will continue to. >>> coming up, pain in the payment space, as the justice department takes aim at visa what regulators are accusing the company of, and what it could mean for shares, that's next. >>> and the clock striking midnight for tiktok music. pulling the plug on one of its features more on that when "fast money" returns. >>> this is "fast money" with melissa lee, right here on cnbc. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. >>> welcome back to "fast money. shares of visa under pressure today on news that the dpt of justice is suing the financial services giant the doj claiming the company is monopolizing the debit card market let's bring in eamon javers with more >> hey, melissa. arguing this effects not just the price of one thing, but the price of nearly everything, attorney general merrick garland explained why the justice dep

the drug maker bristol-myers squibb says nausea and indigestion are the most common side effects of thetensions in the middle east. >> israel is doubling down on its mission to eliminate hezbollah as a threat, despite increasing pressure from its allies to pause the fighting. several countries, including the u.s, have called for a 21 day cease fire between israel and hezbollah to allow time for negotiations. israeli prime minister benjamin netanyahu rejected that proposal as his government stands by the claim that they are working to de-escalate the crisis. palestinian president mahmoud abbas gave a defiant speech to the u.n. general assembly today, strongly condemning israeli operations in gaza and lebanon. netanyahu is expected to give his own u.n. address tomorrow morning here in the bay area. dozens of people rallied outside chevron's headquarters in san ramon today. the demonstrators say they object to the oil company's support of israel. chevron currently supplies israel's military efforts with light and power. protesters hung signs outside chevron's building, reading the genocide

generated almost $1.00 of the half trillion dollars in revenue in 2022 last year drug manufacturer at bristol myers squibb posted 45000000000 dollars in revenue. not reported around $60000000000.00 in sales . and johnson and johnson rating more than $85000000000.00. joining us not from atlanta in italy is andrew father. he's the head of global public health initiatives for oxford in berlin, and a senior fellow at ox with mountain and school. good to have you with us. i just want the drugs cost so much in the united states. when the u. s. has a different system from many other parts of the world. i'm only based in the u. k. and we have a, a, a institute called nice to regulate c state and some puts things through a mechanism to west have what the effectiveness is. us doesn't have that kind of centralized monopoly control or pricing. so what you just described is a kind of an innovation on that you have to in fact go through the new regulation update, but the level of the government do you have to put, has to put through an act in order to do this. so this is meant, you've just quoted a price that's

bristol-myers shares gaining on news the fda has approved the company's schizophrenia drug, a twice dailydisorder in seven decades. stories of the week here, casino stocks like wynn, las vegas sands and louis vuitton adding to big gains as china's csi 300 its index closes at its best weekly performance since 2008. costco shares are under pressure after missing quarterly sales estimates. shopper traffic did gain in the u.s. but consumer spent slightly less per trip compared to last year. the revenue was a bit of a miss. the chart, though, shows that this has been a big gainer over the last year. so giving back about 2%. >> let's get the consumer sentiment out just moments ago. rick santelli has those numbers for us. rick? >> yes. david, now these are final reads that will replace the readings from two weeks ago. i will tell you that these just like the conference board's confidence numbers, have improved. if you look at the headline it moved from 69 to 70.1, the best level originally was may and now moves back a month to april and if you look at current conditions it moved higher as well f

the drug maker bristol-myers squibb says nausea and indigestion are some of the common side effects.w, the 21st annual healthy living festival took over the oakland zoo. we heard from one of the community educators at the event who was there to share the importance of health screenings. >> here to talk with older adults about cancer screening, talking to their relatives about their health history so that they can talk to their doctors about when to get screened, how to maintain their health and keep building their families and their health moving forward. >> the united seniors of oakland and alameda county says there's about a half a million residents between 55 and 85 years old in alameda county alone. >> a busy street in san jose got a little safer, as the city held a ribbon cutting on a new crosswalk. it is now open on jackson street at woodside lane. it's right next to rocketship fuerza community prep. the charter school community rallied last year with council member peter ortiz to get this crosswalk installed. a sci fi drama that is 40 years in the making is now in theaters tod

bristol-myers squib, astrazeneca and eli lilly have spent billions to get their hands on this technology of billions at the high end. it's also somewhat surprising we're seeing companies making such big bets here. it's not easy to manufacture, ship or administer radio pharmaceutical because they have radioactive material that's only good for a few days once it's made. novartis is making it work with its drugs. and it's investing $300 million to open and expand its u.s. radio pharmaceuticals manufacturing and it's paying off. they are estimated to bring in $4 billion a year by 2027. novartis and other companies telling me the real opportunity is to expand to many different types of cancer. but the trick is finding markers that are on cancer cells and not unhealthy ones. there's no guarantee they'll be able to thread that needle but there's a lot of excitement here, carl. >> is production as challenged as it is in weight loss at the moment? >> it's really different because you need to make the drug right before you give it to the patient. there's no inventory and it looks a lot different.